In conventional bolt and nut forming machines, the several dies are arranged in sequence at equal distances from each other in the order of the rod-cutting die, the first, second, and third die and final piercing punching stages. After the feedstock is fed to and extends from the rod-cutting die to a specified length outside the end face of the die, it is cut off by an advancing cutter at the front end of a rod-cutting shaft which moves at a right angle to the axis of the rod-cutting die and moves reciprocally back and forth. Simultaneously, the feedstock is cut off by the cutting knife and forced into a die for punch-forming before it is conveyed to the next die by the rod-cutting shaft. Thereafter, as the rod-cutting shaft moves backwards, the feed-stock is ejected from the rear and held between a clamping arm of a transfer clamp, and the feedstock is in this way conveyed from the first, to the second, and from the second to the third punching stages by virtue of the left and right movement of the clamping arm within the range of 180.degree..
In this way, after cutting the feedstock, the advancing movement of the rod-cutting shaft must be equal to the distance between two dies, usually about 60 mm. The distance is very long, and because of the time wasted by this motion, it is impossible to achieve high-speed operation, thus decreasing considerably the efficiency of the forming machine. As a result, a feedstock cutting and forwarding device of complicated structure is required. It is obvious that the conventional device is far from practical.